What does the term 'bootstrapping' refer to in the context of starting a business?
ARaising funds through venture capitalists
BSelf-funding the business using personal resources
CObtaining bank loans for initial capital
DCrowdfunding through online platforms
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Correct answer: (B) Self-funding the business using personal resources
Explanation
Bootstrapping means starting and growing a business with the founder's own savings and revenue, without external capital such as venture capital or loans.